Scottish Court of Session Decisions

Subject_1 DECISIONS of the LORDS OF COUNCIL AND SESSION, collected by JAMES BURNETT, LORD MONBODDO.

Tarras
v.
Innes

Date: 22 January 1740

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[Elch., No. 21, Bill of Exchange; C. Home, No. 141.]

The question here was, When an accepted bill, payable three days after sight, began to bear interest; whether, from three days after date, or three days after a demand made, which in this case was the citation in the process, since no demand earlier could be instructed?

The Lords found, That the sight began when it was accepted, and that, as the bill bore for cash instantly received, and that as the acceptor was the person who received the cash, the presumption was that it was accepted at the time of the date; and therefore found that it was the same thing as if the bill had been payable three days after date, from which time they found interest due.

The President was against the decision, and declared it his opinion, that, if the point were yet entire, no bill should bear interest that is not negotiated; and that even an accepted bill, payable on a certain day, should not bear interest from that day, unless it was protested for not payment, as it is the law in England, and as it was once found to be the law in Scotland; for it is exceeding hard upon the debtor to be obliged to have his money ready at the day, and not know whom to pay it to, since the bill may go through twenty different hands.